Swedish households need to spread the butter ever more thinly

Sweden's GDP for the second quarter of 2023 was presented today. GDP fell by 0.8% compared to the same period in 2022, which was lower than analysts' expectations. Their expectations were that the second quarter would fall as much as the first quarter of 2023, that is, 1%.

According to the Swedish Central Bureau of Statistics, reduced goods exports and reduced inventory investments are the main reasons for the reduction in GDP.

Household consumption fell for the fourth quarter in a row. Inflation has made a clear impression on the shopping habits of Swedish households.

I am guessing that Swedish household consumption will have reached its lowest point in November and then level off. I believe it will take until the second quarter of 2024 before you start to see an increase in Swedish household consumption.

After that, there should be a light in the tunnel.